Vladimir Putin, the President of Russia seems to be in favor of cryptocurrencies and their use in the payment sector. In a recent interview with CNBC, Putin said crypto-assets “has the right to exist and can be used as a means of payment,” Russian President’s pro-crypto stance came as a surprise to many given Russian central bank has issued several warnings for crypto traders, reminding them of high risks that come with a crypto trading.
Putin’s comment on seeing crypto as a potential payment tool comes at a time when the US and several other European nations are considering strict regulations on the crypto market. Russian President also noted that the technology is relatively new and thus unstable, but with time it can grow to become a legitimate tool for payments. He explained,
“The cryptocurrency is not backed by anything yet. It exists and as a means of calculation can be used, of course, yes, but trading in oil, say, or other primary materials and energy sources – st
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